Loans Warehouse completes half million pound second charge
02 March 2026
Loans Warehouse has successfully completed a £496,000 second charge mortgage with Admiral Money, marking one of the largest loans the brokerage has arranged to date and sitting right at the upper limit of Admiral’s current lending appetite.
The loan was secured for homeowners who required substantial funding to complete the final stages of a comprehensive refurbishment of their property. Having already undertaken significant structural and cosmetic improvements, the clients needed capital to settle outstanding building costs and bring the project to completion.
Structured over 216 months, the loan completed on a 5-year fixed rate at 8.70%. Importantly for the clients, the product was arranged with no early repayment charges, giving them the flexibility to make overpayments or settle early as future income events materialise.
The case presented several complexities typical of large, high-value second charge transactions.
With a property valuation in excess of £3 million, maintaining the required loan-to-value threshold was critical. Following an initial valuation the report came back within £100,000 of the figure needed, which isn’t a lot for a property of this value, but this ensured the application remained within criteria.
Given the size of the advance, the case was subject to enhanced underwriting. This included detailed reviews of bank statements and additional income verification and clarification around elements noted within the valuation report, including a one-bedroom annex and equestrian facilities. The Loans Warehouse team provided clear evidence that the annex was not income-generating and that the equestrian use was strictly personal, satisfying lender requirements.
Jordan Chandler, Head of Completions at Loans Warehouse, commented:
“Large second charge loans demand absolute attention to detail. When you’re operating at the top end of a lender’s maximum exposure, there is no room for error. This case required close collaboration with Admiral’s underwriting team, proactive valuation management and constant communication with the clients.
What makes this completion particularly significant is that we delivered one of the biggest second charges Admiral will currently write, while still protecting the client’s flexibility with a five-year fix and no ERCs. It’s a strong example of how specialist brokers can navigate complexity and deliver at scale.”
Mike Walters, Commercial Director at Admiral Money said
'This completion is a strong example of a genuinely positive customer outcome, where value, cost and ease were all delivered alongside a complex, high-value lending requirement. At this end of the market, it’s not just about appetite, but about confidence in the broker’s ability to present the case clearly and manage every detail.
Loans Warehouse demonstrated a strong understanding of both the clients’ objectives and our lending criteria, working closely with the Admiral team to navigate the enhanced due diligence and valuation sensitivities. The result was a well-structured solution that met the clients’ needs while remaining within policy. It’s a great example of how specialist partners can help support ambitious, high-net-worth borrowers and not just the 'typical' customer.'
The completion reinforces Loans Warehouse’s position as one of the leading names in the second charge market, capable of structuring and delivering high-value, complex transactions with speed and precision.
